VXX vs ZSTK: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and ZeroStack Corp. (ZSTK) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and ZSTK?
On 3 years of weekly data the VXX/ZSTK correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.14 lands near the 3-year figure. The 5-year figure is -0.20, and annualized covariance runs at -1880.8 %².
Within VXX's tracked universe of 2872 assets, ZSTK comes in at #63 by 3-year correlation. The last year tells two different stories: VXX led by 23.7 percentage points, -49.7% for VXX against -73.4% for ZSTK. One caveat on sizing: ZSTK is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
VXX vs ZSTK: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | ZSTK (ZeroStack Corp.) | |
|---|---|---|
| 1-year return | -49.7% | -73.4% |
| 5-year return | -95.6% | -99.9% |
| Volatility (ann.) | 60.9% | 153.8% |
| Beta vs S&P 500 | -3.31 | 2.10 |
| Max drawdown (3Y) | -83.3% | -99.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | ZSTK |
|---|---|---|
| 2022 | -23.8% | -87.2% |
| 2023 | -72.5% | -70.4% |
| 2024 | -26.2% | -23.7% |
| 2025 | -42.2% | -84.4% |
| 2026 | -31.6% | -6.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and ZSTK good diversifiers for each other?
Yes. With a correlation of -0.20, VXX and ZSTK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and ZSTK?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.14 over the last year and -0.20 over 5 years.
Is ZSTK a good diversifier for VXX?
Yes. With a correlation of -0.20, VXX and ZSTK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/vxx-vs-zstk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vxx-vs-zstk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VXX correlations · ZSTK correlations
